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Tuesday, November 24, 2020

Why Curaleaf Holdings Inc (OTCMKTS:CURLF) Could be a Gift at Present Levels

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In the spirit of seeking out interesting opportunities, shares of Curaleaf Holdings Inc (OTCMKTS:CURLF) are clearly in the camp of sector relative strength at this point, with the stock up well over 10% in the past 3 weeks as the rest of the pot space gets taken out to the woodshed. Relative strength in extended bear trends on a sector level is often an extremely good signal for forward returns. Hence, CURLF might be a particularly interesting stock to have on the radar for cannabis investors right now.

In addition, to help fuel the fire, the company just announced that its core shareholders representing approximately 75% of the issued and outstanding shares of the Company have entered into an amended and extended lock-up agreement. According to the release, since the Company’s reverse takeover transaction in October 2018, all shareholders holding individually more than 1% of the issued and outstanding shares have been subject to lock-up agreements.

Curaleaf Holdings Inc (OTCMKTS:CURLF) promulgates itself as a company that operates as an integrated medical and wellness cannabis operator in the United States.

The Company is the parent of Curaleaf, Inc., a leading vertically integrated cannabis operator in the United States. Headquartered in Wakefield, Massachusetts, Curaleaf, Inc. has a presence in 12 states.

Curaleaf, Inc. operates 30 dispensaries, 12 cultivation sites and 9 processing sites with a focus on highly populated, limited license states, including Florida, Massachusetts, New Jersey and New York. Curaleaf, Inc. leverages its extensive research and development capabilities to distribute cannabis products in multiple formats with the highest standard for safety, effectiveness, consistent quality and customer care. Curaleaf is committed to being the industry’s leading resource in education and advancement through research and advocacy.

Curaleaf Inc.’s Florida operations were the first in the cannabis industry to receive the Safe Quality Food certification under the Global Food Safety Initiative, setting a new standard of excellence.

It cultivates, processes, markets, and/or dispenses a range of cannabis products in various operating markets, including flower, pre-rolls and flower pods, dry-herb vaporizer cartridges, concentrates for vaporizing, concentrates for dabbing, tinctures, lozenges, capsules, and edibles.

The company also provides non-cannabis services to licensed cannabis operators in the areas of cultivation, extraction and production, and retail operations. As of November 01, 2018, it operated a network of 29 dispensaries. The company was founded in 2010 and is headquartered in Wakefield, Massachusetts.

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As noted above, CURLF just announced that its core shareholders representing approximately 75% of the issued and outstanding shares of the Company have entered into an amended and extended lock-up agreement.

Recent action has seen 15% piled on for shareholders of the listing since the stock’s pivot lows earlier this month. In addition, the stock has seen interest climb, with an increase in recent trading volume of 12% beyond its prior sustained average level.

Executive Chairman Boris Jordan commented, “The extension of the lock up agreements by Curaleaf’s core shareholders signals their ongoing support for the Company. We expect the new lock-up release schedule to reduce uncertainty regarding the release of currently locked-up shares and provide for a more orderly increase in the available float in the Company’s shares. Nevertheless, the core shareholders have all expressed their current intention not to sell any shares despite the partial release from lock up. As announced on October 3, I myself recently increased my shareholding.”

Now commanding a market cap of $2.13B, CURLF has a significant war chest ($140.3M) of cash on the books, which must be weighed relative to about $64.1M in total current liabilities. CURLF is pulling in trailing 12-month revenues of $181.9M. In addition, the company is seeing recent top-line growth, with sequential quarterly revenues growing at 38.4%. This may be a very interesting story and we will look forward to updating it again soon. Sign-up for continuing coverage on shares of $CURLF stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in $CURLF, either long or short, and we have not been compensated for this article.

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